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    Farmer's Progress and Increase in Income 2.:, Our Governmentislaunchingahistoricprogrammenamely

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    Farmer's progress and Increase in Income The government has fixed the minimum support price for 22 crops at a minimum of 50% more than the cost to double farmer's incomes. While agriculture continues to drive the rural economy, declining commodity prices and small landholdings have reduced farmer incomes. To provide assured income support to small and marginal farmers, the government is launching the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) program to provide Rs. 6,000 per year in three installments to around 12 crore vulnerable landholding families with up to 2 hectares of land. The program will cost Rs. 75,000 crore annually and Rs. 20,000 crore has

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    Farmer's Progress and Increase in Income 2.:, Our Governmentislaunchingahistoricprogrammenamely

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    sai
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    Farmer's progress and Increase in Income The government has fixed the minimum support price for 22 crops at a minimum of 50% more than the cost to double farmer's incomes. While agriculture continues to drive the rural economy, declining commodity prices and small landholdings have reduced farmer incomes. To provide assured income support to small and marginal farmers, the government is launching the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) program to provide Rs. 6,000 per year in three installments to around 12 crore vulnerable landholding families with up to 2 hectares of land. The program will cost Rs. 75,000 crore annually and Rs. 20,000 crore has

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    Budget Speech

    Original Title

    Budget Speech6

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    Farmer's progress and Increase in Income The government has fixed the minimum support price for 22 crops at a minimum of 50% more than the cost to double farmer's incomes. While agriculture continues to drive the rural economy, declining commodity prices and small landholdings have reduced farmer incomes. To provide assured income support to small and marginal farmers, the government is launching the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) program to provide Rs. 6,000 per year in three installments to around 12 crore vulnerable landholding families with up to 2 hectares of land. The program will cost Rs. 75,000 crore annually and Rs. 20,000 crore has

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    1 views2 pages

    Farmer's Progress and Increase in Income 2.:, Our Governmentislaunchingahistoricprogrammenamely

    Uploaded by

    sai
    Farmer's progress and Increase in Income The government has fixed the minimum support price for 22 crops at a minimum of 50% more than the cost to double farmer's incomes. While agriculture continues to drive the rural economy, declining commodity prices and small landholdings have reduced farmer incomes. To provide assured income support to small and marginal farmers, the government is launching the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) program to provide Rs. 6,000 per year in three installments to around 12 crore vulnerable landholding families with up to 2 hectares of land. The program will cost Rs. 75,000 crore annually and Rs. 20,000 crore has

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    of 2

    Farmer's progress and Increase in Income

    2. Madam  Speaker,  our  hard  working  farmers  were 


    not  getting  the  fullvalue  of  their  produce.  With  an  aim 
    to double the income of farmers, our Government,  for 
    the  first  time  in  historyhas  fixed  the  minimum  support 
    price (MSP) of all 22 crops at minimum 50% more than 
    the cost.

    3.
    Agriculturecontinuestobethemaindriveroftherurale
    conomy.Ourhard‐workingfarmers,supportedbypro‐
    farmerpoliciesofour 
    Governmentinthepastfourandhalfyears,haveproducedag
    riculturecommoditiesinrecordquantities.Decliningprices
    ofagriculturalcommoditiesintheinternationalmarketandf
    allinfoodinflationinIndiasince2017‐18,relativetonon‐
    foodsector,havehowever,reducedthereturnsfromfarmin
    g.Smallandfragmentedlandholdingonaccountofrepeated
    divisionshasalsocontributedindeclineintheincomeofthef
    armerfamily.Hence,thereisaneedforprovidingstructuredi
    ncomesupporttothepoorland‐
    holderfarmerfamiliesinthecountryforprocuringinputssuc
    hasseeds,fertilizers,equipment,labouretc.andtomeetoth
    erneeds.Suchsupportwillhelptheminavoidingindebtedne
    ssaswellandfallingintoclutchesofmoneylenders.
    4.
    Toprovideanassuredincomesupporttothesmalland
    marginalfarmers,our 
    Governmentislaunchingahistoricprogrammenamely

    1
    “PradhanMantriKIsanSAmmanNidhi(PM‐
    KISAN)”.Underthisprogramme,vulnerablelandholdingfar
    merfamilies,havingcultivablelandupto2hectares,willbepr
    ovideddirectincomesupportattherateof`
    6,000peryear.Thisincomesupportwillbetransferreddirect
    lyintothebankaccountsofbeneficiaryfarmers,inthreeequa
    linstalmentsof`
    2,000each.ThisprogrammewillbefundedbyGovernmento
    fIndia.Around12croresmallandmarginalfarmerfamiliesar
    eexpectedtobenefitfromthis.Theprogrammewouldbema
    deeffectivefrom1stDecember2018andthefirstinstalmentf
    ortheperiodupto31stMarch2019wouldbepaidduringthisy
    earitself.Thisprogrammewillentailanannualexpenditureo
    f`75,000crore.
    5. PM‐
    KISANwouldnotonlyprovideassuredsupplementalincome
    tothemostvulnerablefarmerfamilies,butwouldalsomeett
    heiremergentneedsespeciallybeforetheharvestseason.P
    M‐
    KISANwouldpavethewayforthefarmerstoearnandliveares
    pectableliving.
    6. Iproposeanoutlayof`75,000croreforPM‐
    KISANforthe
    FY2019‐20.Iamalsoproviding`
    20,000croreintheRevisedEstimatesofFY2018‐19.

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